Fortis (TSE:FTS) Stock Price Target Raised at National Bank Financial

Key Points

• National Bank Financial raised its Fortis price target to C$84 from C$83 and maintained a “sector perform” rating, implying 1.19% downside from the stock’s price at the time.
• Analyst views are mixed: Fortis has a consensus “Hold” rating and C$81.68 average target, with four Buy ratings and six Hold ratings.
• Fortis shares rose 1.7% to C$85.01 in Wednesday trading, near the stock’s 52-week high of C$85.19.

Fortis (TSE:FTS - Get Free Report) had its target price boosted by equities research analysts at National Bank Financial from C$83.00 to C$84.00 in a note issued to investors on Wednesday, BayStreet reports. The firm currently has a "sector perform" rating on the stock. National Bank Financial's price target indicates a potential downside of 1.19% from the stock's current price.

A number of other research analysts also recently issued reports on FTS. BMO Capital Markets boosted their price target on shares of Fortis from C$81.00 to C$85.00 and gave the stock a "market perform" rating in a research report on Wednesday. Barclays decreased their price objective on shares of Fortis from C$82.00 to C$76.00 and set an "overweight" rating for the company in a research report on Wednesday, September 30th. Desjardins set a C$85.00 price objective on shares of Fortis and gave the stock a "buy" rating in a research report on Tuesday, October 27th. Finally, Canadian Imperial Bank of Commerce lowered their target price on shares of Fortis from C$82.00 to C$78.00 in a research note on Tuesday, September 22nd. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, Fortis currently has a consensus rating of "Hold" and a consensus price target of C$81.68.

Fortis Trading Up 1.7%

Shares of Fortis stock traded up C$1.43 during midday trading on Wednesday, reaching C$85.01. The company had a trading volume of 1,225,924 shares, compared to its average volume of 1,598,645. The stock has a fifty day moving average price of C$77.08 and a 200 day moving average price of C$77.70. Fortis has a fifty-two week low of C$69.06 and a fifty-two week high of C$85.19. The firm has a market cap of C$43.43 billion, a PE ratio of 25.00, a P/E/G ratio of 3.01 and a beta of 0.34. The company has a debt-to-equity ratio of 143.60, a current ratio of 0.56 and a quick ratio of 0.36.

Fortis (TSE:FTS - Get Free Report) last released its earnings results on Tuesday, November 3rd. The company reported C$0.92 earnings per share for the quarter. The business had revenue of C$3.12 billion during the quarter. Fortis had a net margin of 14.72% and a return on equity of 7.43%. On average, equities analysts anticipate that Fortis will post 3.34 earnings per share for the current year.

Fortis Company Profile

Fortis is a diversified leader in the North American regulated electric and gas utility industry with 2025 revenue of $12 billion and total assets of $79 billion as at June 30, 2026. The Corporation's 9,900 employees serve utility customers in five Canadian provinces, ten U.S. states and the Cayman Islands.

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